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High Court of Bombay Dismisses Revenue's Appeal in Bogus Purchase Case — GP Rate Restricted to 15% on Alleged Bogus Purchases. The court held that when purchases are accepted as genuine but from bogus parties, only the profit element embedded in such purchases can be taxed, not the entire purchase amount.

The case pertains to an appeal filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate ...

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Bombay High Court Dismisses Appeals Against Arbitral Awards in Service Tax Reimbursement Dispute. Court Holds That Construction of Contractual Clause by Arbitrator Falls Within Arbitral Domain and Is Not Open to Challenge Under Section 34 of the Arbitration and Conciliation Act, 1996.

The case involves five appeals filed by Central Warehousing Corporation (the appellant) against a common judgment dated 18.02.2019 dismissing its arbi...

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Bombay High Court Dismisses Section 34 Petition Against Arbitral Award in Investment Dispute. Court upholds award of damages for breach of investment agreement, finding no patent illegality or perversity in arbitrator's findings.

The case involves a challenge under Section 34 of the Arbitration and Conciliation Act, 1996 to an arbitral award dated 15th June 2017. The petitioner...

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Bombay High Court Quashes FIR in Business Dispute Due to Civil Nature of Transaction. Dispute over unpaid amount for charcoal supply held to be civil, not criminal, under Sections 406 and 420 IPC.

The applicants, Navneet Kumar Aggarwal, Naresh Aggarwal, and Ramawatar Goel, filed an application under Section 482 of the Code of Criminal Procedure,...

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Bombay High Court Allows Appeal in Arbitration Dispute Over Limitation — Contractor's Claims Not Barred by Limitation. Part Payments and Negotiations Constitute Acknowledgment of Debt Under Section 18 of Limitation Act, 1963, Extending Limitation Period.

The dispute arose out of a renovation contract between Mahavir Prasad Jangid (appellant/contractor) and ECGC Limited (respondent). The appellant compl...

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Bombay High Court Dismisses Insurance Company's Challenge to Arbitral Award in Trust and Coverage Dispute. Majority Award Upheld as Not Patently Illegal Under Section 34 of the Arbitration and Conciliation Act, 1996.

The petitioner, The New India Insurance Company Limited, challenged an arbitral award dated 27 July 2009 passed by a three-member Arbitral Tribunal un...

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NCLAT Dismisses ED's Appeal as Time-Barred in IBC Resolution Plan Approval Case — Delay of 62 Days Not Condoned Due to Lack of Sufficient Cause.

The Directorate of Enforcement (ED) filed an appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) challenging an order dated 07.0...